ARS Pharmaceuticals, Inc. $SPRY Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC lessened its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 59.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,000 shares of the company’s stock after selling 66,628 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in ARS Pharmaceuticals were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Profund Advisors LLC lifted its holdings in shares of ARS Pharmaceuticals by 8.0% in the 2nd quarter. Profund Advisors LLC now owns 17,088 shares of the company’s stock worth $298,000 after acquiring an additional 1,264 shares during the last quarter. Lisanti Capital Growth LLC increased its holdings in ARS Pharmaceuticals by 116.7% in the 2nd quarter. Lisanti Capital Growth LLC now owns 420,075 shares of the company’s stock valued at $7,330,000 after purchasing an additional 226,245 shares during the last quarter. American Capital Advisory LLC purchased a new stake in ARS Pharmaceuticals in the second quarter valued at approximately $234,000. Hussman Strategic Advisors Inc. acquired a new position in ARS Pharmaceuticals during the second quarter worth $1,832,000. Finally, Teacher Retirement System of Texas boosted its position in shares of ARS Pharmaceuticals by 13.4% during the second quarter. Teacher Retirement System of Texas now owns 11,866 shares of the company’s stock worth $207,000 after buying an additional 1,404 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $187,500.00. Following the transaction, the chief financial officer owned 10,042 shares in the company, valued at $150,630. This trade represents a 55.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard E. Lowenthal sold 50,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $14.49, for a total value of $724,500.00. Following the transaction, the chief executive officer directly owned 1,196,494 shares in the company, valued at approximately $17,337,198.06. This trade represents a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 112,500 shares of company stock valued at $1,615,759. Insiders own 33.50% of the company’s stock.

ARS Pharmaceuticals Stock Up 1.9%

SPRY stock opened at $8.94 on Thursday. The company’s 50 day moving average is $9.83 and its two-hundred day moving average is $13.46. ARS Pharmaceuticals, Inc. has a twelve month low of $8.05 and a twelve month high of $18.90. The company has a current ratio of 6.66, a quick ratio of 5.98 and a debt-to-equity ratio of 1.14. The stock has a market cap of $883.72 million, a P/E ratio of -11.04 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The company had revenue of $32.50 million during the quarter, compared to analysts’ expectations of $28.87 million. Research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SPRY. Zacks Research cut ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Roth Capital began coverage on shares of ARS Pharmaceuticals in a research report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Raymond James Financial set a $32.00 price objective on ARS Pharmaceuticals in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $31.80.

ARS Pharmaceuticals Company Profile

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for severe allergic reactions. The company is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for the emergency treatment of Type I allergic reactions, including anaphylaxis. It serves healthcare professionals, patients, and caregivers.